NSL Consolidated Limited (Company, ASX:NSL, NSLO) is pleased to update the market regarding progress of its Indian iron ore business.
As announced to the market previously, NSL has signed an MoU with the Government of Andhra Pradesh (GoAP) for the growth and expansion of its mining and beneficiation operations within the State. The targeted production in excess of 8mtpa will translate into a need of approximately 2,800 employees working for NSL and the associated industries in the Kurnool District. This presents both a local employment challenge and a unique opportunity for targeted Corporate Social Responsibility (CSR) programs.
The Kurnool district is characterised by poverty, lack of empowerment for women, high rates of farmer suicide and a seasonal, subsidence lifestyle. Government programs have been focussed on food security, but other key areas are not drawing national attention.
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